UK Accounting Glossary
The Pacific Rim is a geographic concept that encompasses the countries that border the Pacific Ocean.
Among the important nations of the Pacific Rim are Japan, South Korea, China, Taiwan, and Singapore; the Pacific Rim also includes smaller nations like Laos and New Zealand Although the United States and Canada are not considered Pacific Rim countries, they are members of the Asia-Pacific Economic Cooperation, an organization that promotes the economic interests of Pacific Rim nations. Indeed, more than any geographical conceit, the Pacific Rim represents the rise of the economies of what had been called the Orient. These include “economic dragons” like South Korea and Taiwan, which were barely significant players until the late 1980s. By the same token, the Pacific Rim represents a shift of power away from Europe. The rise of the Pacific Rim has had a powerful impact on the U.S. West Coast, which both economically and culturally has become more integrated with Asian nations.
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This glossary post was last updated: 6th February 2020.